Traders Purchase Large Volume of POET Technologies Call Options (NASDAQ:POET)

POET Technologies Inc. (NASDAQ:POET) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 87,478 call options on the stock. This represents an increase of approximately 96% compared to the average volume of 44,709 call options.

Analyst Ratings Changes

POET has been the topic of a number of recent research reports. Wall Street Zen upgraded POET Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of POET Technologies in a report on Wednesday, October 8th. Finally, Northland Securities set a $8.00 target price on POET Technologies in a report on Wednesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $8.00.

POET Technologies Price Performance

Shares of NASDAQ POET traded up $1.37 during trading hours on Wednesday, hitting $6.05. 21,622,569 shares of the company’s stock were exchanged, compared to its average volume of 4,012,012. The company’s 50-day moving average price is $6.17 and its 200-day moving average price is $5.55. The stock has a market capitalization of $548.95 million, a price-to-earnings ratio of -8.40 and a beta of 0.46. POET Technologies has a 1-year low of $3.09 and a 1-year high of $9.41.

POET Technologies (NASDAQ:POET) last announced its earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). POET Technologies had a negative return on equity of 103.46% and a negative net margin of 6,625.16%.The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.55 million. On average, research analysts expect that POET Technologies will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On POET Technologies

Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in POET Technologies during the third quarter valued at about $25,000. New Millennium Group LLC bought a new stake in shares of POET Technologies during the third quarter valued at approximately $27,000. CoreCap Advisors LLC increased its position in shares of POET Technologies by 1,967.2% during the third quarter. CoreCap Advisors LLC now owns 5,168 shares of the company’s stock valued at $29,000 after purchasing an additional 4,918 shares during the period. Strengthening Families & Communities LLC acquired a new position in shares of POET Technologies in the first quarter valued at $26,000. Finally, SBI Securities Co. Ltd. lifted its position in POET Technologies by 95.3% in the third quarter. SBI Securities Co. Ltd. now owns 8,487 shares of the company’s stock worth $47,000 after purchasing an additional 4,142 shares during the period. 1.99% of the stock is owned by institutional investors and hedge funds.

About POET Technologies

POET Technologies Inc designs, develops, manufactures, and sells discrete and integrated opto-electronic solutions in Canada, the United States, Singapore, and China. It offers integration solutions based on the POET Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques.